14 Jan, 2021
KKR raises $1.7B for RE fund; PE firms line up for Suven stake
* Global investment firm KKR & Co. Inc. held the final close of its $1.7 billion KKR Asia Real Estate Partners fund. KKR's first pan-Asian real estate fund received support from new and existing global investors.
* The Blackstone Group Inc., CVC Capital Partners Ltd. and Warburg Pincus LLC were short-listed to buy a controlling stake in India's Suven Pharmaceuticals Ltd., The Economic Times (India) reported Jan. 13, citing people aware of the matter. Suven Chairman and Managing Director Venkateswarlu Jasti and his family are looking to sell half of their 60% stake in the company to a new investor. The sale will make way for an open offer for another 26% stake in Suven.
➤ Careismatic Brands launches 1st-lien, 2nd-lien term loans for buyout
Proceeds will be used to finance the acquisition of the company by Partners Group.
➤ High-grade: American Tower eyes $9.1B bridge for Telxius Towers buy
The transaction is expected to close in multiple tranches, beginning in the second quarter of 2021, subject to government and regulatory approvals and customary closing conditions.
FUNDRAISING AND DEALS
* Silver Lake Management LLC hit the roughly $20 billion hard cap for its latest flagship fund at final close. The amount raised includes more than $500 million from the fund's general partner.
* New Mountain Capital LLC raised more than $10 billion for its two funds, The Wall Street Journal reported. The New York City-based private equity firm secured $9.6 billion for its flagship vehicle, its largest to date. It also raised $640 million for a fund to be invested in noncontrolling stakes in companies, according to the report.
* Advent International Corp.-backed Polish parcel locker business InPost SA intends to go public in Amsterdam and to debut on the Euronext by February, Reuters reported. Advent was preparing for the company's IPO in December 2020, which could value the business at between €7 billion and €8 billion.
* TPG The Rise Fund, TPG Capital LP's impact investing platform, paid an undisclosed sum to take a majority stake in Element Markets LLC.
* Funds managed by Blackstone sold a minority revenue share interest in Arkkan Capital to New York-based alternative asset manager TIG Advisors LLC for an undisclosed amount.
VENTURE CAPITAL
* Grab Financial Group, the financial technology platform of Grab Holdings Inc., raised more than $300 million from investors through a series A funding round led by South Korea-based Hanwha Asset Management Co. Ltd. Grab's early investors GGV Capital and K3 Ventures Pte. Ltd., as well as fintech-focused venture capital companies Arbor Ventures Ltd. and Flourish Ventures, participated in the funding round.
* Israeli venture capital firm Glilot Capital Partners launched its inaugural early-growth fund. The $170 million Glilot+ fund will target post-series A enterprise software and cybersecurity companies.
* Berlin-based digital road freight forwarder sennder GmbH raised $160 million at the close of its series D financing. According to S&P Global Market Intelligence data, Accel Partners, HV Capital Adviser GmbH, Lakestar Advisors GmbH, Project A Ventures GmbH & Co. KG and Scania Growth Capital AB participated in the fundraising activity.
INDUSTRY NEWS
* A study conducted by LGT Capital Partners shows that three-quarters of 117 private equity managers surveyed believe environmental, social and corporate governance is a key factor in investment decision-making, Private Equity Wire reported. The report added that 90% of the respondents believe the U.N. Sustainable Development Goals will help the financial industry address key environmental and social challenges.
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